Mexican regulators approve KCS bid for Mexican railroad
The Mexican Federal Competition Commission and Mexican Foreign Investment
Commission have approved a bid by Kansas City Southern to acquire a controlling interest in the Mexican railroad TFM, S.A. de C.V. from Grupo TMM, S.A.
The competition commission has extended Kansas City Southern’s authority to purchase TMM’s interest in TFM for an additional 180 days, up to April 5, 2005.
TFM operates Mexico’s northeast railway and carries over 40 percent of the country’s rail cargo. Kansa City Southern has long sought to gain control of TFM to create a joint company called NAFTA Rail.
Mexican regulators approve KCS bid for Mexican railroad
